A very constructive conference call this morning went along way to offsetting the investor disappointment on volumes sold during 3Q that we noted yesterday in this update. The stock reversed its after-hours decline and is trading materially higher this morning. Here are the key points we jotted down from the …
Read More »Latest Thoughts
Hi Crush Quick Take: Sales And Volume Charts, Kermit Update, Coarse Reclamation
Quick take after Hi-Crush released earnings this afternoon. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new to Infill Thinking, or your membership has expired, please email us …
Read More »Tailwinds Form Behind 2018 E&P Capex Budgets
The following brief analytical editorial was excerpted from our twice-weekly newsletter on Tuesday October 31, 2017. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new to Infill …
Read More »A Blank $300 Million Check And Big Brand Name Recognition – OFS SPAC IPO Friday
There is a new oilfield service company scheduled to price a $300mm initial public equity offering on November 3. This isn’t an ordinary IPO though – it is a blank check company backed by some oilfield industry titans. There’s a lot more to this story… Login to see the full …
Read More »Sand In The Wind: Charting West Texas Vs. Wisconsin Air Currents
Wind presents a big risk factor for West Texas mines. It’s a challenge that mine builders don’t have to design to in Wisconsin, so cookie cutter designs may face issues with open sand pile erosion. After a windy week in West Texas, we put pen to paper to chart the …
Read More »US Land Drilling Contractors Unanimously Defy The Rig Count Trend
Three of the largest US land drillers (together controlling 35% of the market) openly resisted the downward trending rig count last week. The US land rig count fell in 9 of the last 12 weeks and is off 5% from peak. The prevailing view has been that this decline would …
Read More »We Fished These 25 Key Points From The Earnings Ocean
During earnings season, an ocean of content comes at you fast. 7,000 words are spoken on the average earnings conference call. There were 27 oilfield earnings conference calls this week. We did the math. That’s the word count equivalent of 200 Infill Thinking posts. How much of this info overload …
Read More »A Landman Turned Sandman Is Opening Two In-Basin Haynesville Frac Sand Mines
We take you behind the scenes in another market beyond the Permian that may be fully supplied by in-basin frac sand by the end of next year. The story of these new Louisiana sand mines reminds us that there is plenty of potential for in-basin deposits beyond the dunes of …
Read More »Nice Timing On The 4th Well Advanced West Texas Sand Producer Joining The TCP
The heat on the lizard is rising so US Silica’s news of inclusion in the Texas Conservation Plan TCP is well timed. More thoughts on the news and who else is in… There’s a lot more to this story… Login to see the full update… To read this update and …
Read More »New Movement On Petition To List The Lizard [Exclusive]
Subscribers only. Breaking and exclusive reporting on the very latest in the dune sage brush lizard story from Infill Thinking. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are …
Read More »9th Largest US Pressure Pumper Says Permian Completion Supply Chain & Logistics Are A Mess
Superior Energy Services, the ninth largest US pressure pumper by active horsepower, spoke comprehensively about the North American oilfield service market (and Permian completions in particular) on Tuesday morning. We’ve organized our notes from the conference call into the following key points. There’s a lot more to this story… Login …
Read More »Kermit Sand Job Openings Surge To More Than 1/5th Of Regional Hiring Demand [Chart Of The Day]
Based on a study of job openings on Indeed.com, we estimate that upwards of 20% of advertised job listings in the Kermit/Monahans area of West Texas are posted by startup frac sand mines. In the full article, we show which sand miners have positions open and who they are competing with …
Read More »Sharpest & Shortest Drilling Recovery In Modern US Land Rig History?
The falling rig count is playing heavily into early 3Q17 conference call discussions, particularly after last week’s big drop. We’ve long thought this correction was expected, but reaction to the decline reminds us that nothing is ever truly “priced in” until it happens. Here’s some context on where we’ve been, …
Read More »Halliburton Weighs In On Key Market Debates: 2018 Outlook, Frac Pricing, Newbuilds, Sand Trends, Etc.
Halliburton hosted what we saw as a generally positive and realistic conference call Monday morning. The stock took a hit, we believe due to slowing NAM cyclical growth overall not because of HAL-specific concerns. The US rig count is pulling back as expected. In that context, Halliburton is focused on …
Read More »After A “Fractastic” Quarter, Schlumberger Diagnoses The US Onshore Market With A Muted Growth Outlook Next Year
Listening to Schlumberger’s conference call this morning, we were reminded just how much Big OFS has changed. In this update, we focus on takeaways relevant to the oilfield’s general population – specifically the outlook for US pressure pumping, international OFS, new offshore contracting models, and the oil macro. There’s a lot …
Read More »3Q17 Oilfield Earnings Season Cram Session
Over the next three weeks, 86 oilfield companies we monitor will host conference calls to discuss results and outlook. We’ve got a cool sector timeline plus heatmap to help you know when to tune in to hear from sectors you care about. We also share an easy to digest list …
Read More »The US Frac Sand Renaissance & Charts Illustrating The Supply Stack Transformation
Yesterday morning, we had an opportunity to get out of the weeds a little bit and think about the big picture. We were preparing for an “introduction to the frac sand market” conference call with a consulting client who is new to the space and looking to get up to …
Read More »One Of The World’s Most Capable Offshore Rigs Just Agreed To Work Pro Bono For The Next 24 Months
We break down a very important offshore drilling contract, explaining what it means for the deepwater market. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new to Infill …
Read More »New Discussion: If Risks Hypothetically Derail In-Basin Sand Supply, Will Permian Transload Capacity Be Enough?
There is a new discussion topic over in our members-only discussion forum today. Click here to read the full thread and discuss In it we ponder whether enough Permian transload capacity is in place to service demand growth if in-basin frac sand mines fall short of expectations. Understandably, investment appetite …
Read More »Update On Permian In-Basin Mine Number Two, Mine Number Three & Contracting Competition
Several Permian Basin mines are now shipping sand. But only one is still fully operational. What’s the latest on the next two in terms of startup schedules? Based on our recent discussion with management teams of the new plants approaching the finish line, we provide readers with a status update …
Read More »Oilfield Reaction To The Looming ELD Regulations
On Monday morning this week, we sent out an email survey to a select group of industry insiders who subscribe to Infill Thinking. We asked these folks to provide feedback anonymously on the risk to oilfield activity posed by phase-in of electronic logging device regs this December. We got some insightful …
Read More »Marcellus Shale Drilling Permits Hit A Two-Year High
Starting this week, we begin an analytical tour around basins outside the Permian. The focus feature in each of our regular weekly rig count updates over the next couple weeks will provide an overview on D&C activity trends in key basins beyond West Texas. Here are five Marcellus Shale charts …
Read More »Will “Rolling Protests” Go Viral Like NFL Kneeling And Delay ELD Regulation?
A new protest has begun in the trucking community. It is starting small, but it is highly visible and could spread fast to the national stage. It has big implications for the oilfield. If the movement continues to grow, it could be a near-term negative for US onshore activity levels, …
Read More »Unimin’s Permian Plant Location Finally Revealed
The long awaited Unimin Permian sand mine location has finally been announced. A new filing reveals one of the best kept secrets of the Permian Basin sand mine rush: where will Unimin build their plant? There’s a lot more to this story… Login to see the full update… To read …
Read More »Borr Drilling Is… The Most Interesting Offshore Driller In The World
Friday was a big day for Borr Drilling. First the Schlumberger deal “an industry first” and now consolidation of stranded newbuilds. Borr is fast becoming the most exciting name to watch in offshore drilling. There’s a lot more to this story… Login to see the full update… To read this …
Read More »This Large Permian Operator Will Cautiously Start Replacing Northern White Sand With Local Next Quarter
We’ve heard from a lot of sand producers lately on the prospects of and plans for in-basin sand. More important of course is the commentary from E&P companies. We’ll be hearing a lot more from them as 3Q17 reporting season rolls around here in about three weeks. Here’s what one …
Read More »The Top 10 Infill Thinking Stories Of 3Q17 & A Word About Independence
3Q17 Highlights We shipped 27 newsletters during the third quarter. Our open rate averaged 60%. Based on analysis conducted by our email service provider, e-newsletters in our category average an open rate of 15-25%. Here is the newsletter that readers found the most intriguing: 2 New Permian Mines, M&A Mistake, …
Read More »How Busy Is The West Texas Frac Sand Market? It’s This Busy… [Video]
We share a peek at trucks waiting on frac sand sent into us by a reader in the Permian Basin. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are …
Read More »Preferred Sands Confirms Commitment To Build Two Permian Plants, Shoots Down Oilfield Speculation Of A Cancellation
Here’s what you need to know about the latest rumor moving through the Permian Basin sand mining sewing circle. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new …
Read More »A Step Closer To “OneJackup” As Schlumberger & Borr Formalize The First Performance-Based Offshore Drilling Rig Model
Context and thoughts on the Borr / Schlumberger announcement. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new to Infill Thinking, or your membership has expired, please email …
Read More »Some Initial Thoughts On Reports That Unimin Is Buying Fairmount Santrol
Here’s what you need to know about the rumors that Unimin is buying Fairmount Santrol. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. If you are new to Infill Thinking, or …
Read More »10 Interesting Things We Learned During The Recent Frac Sand Supply & Logistics Conference
Want to know what a ton of frac sand is going for in the Permian spot market? Want to know what could cut 30% of trucking capacity out of the market? Want to know what has everyone in the oilfield on edge these days? Want to know what people expect …
Read More »US Oilfield Contract Labor Heatmap & Listing Analysis [Guest Post]
Last quarter, RigUp contributed one of Infill Thinking’s most popular guest posts to date, sharing their views on trucking rates and demand and quantifying the addressable market for hauling for the first time. So we asked them to follow that up in this Friday guest post with a look at …
Read More »We Still Can’t Find This Mine, But We Found The Job Ads…
We are tracking 19 new frac sand mines worth 70mmtpa in the Permian Basin. We know where all but one of them are. We got some indication that the mystery site is moving forward this week, but we still don’t have a location… There’s a lot more to this story… …
Read More »Stop The Printers… Everyone’s Slides Are Outdated… Yet Another Permian Mine Just Announced
The largest frac sand industry conference begins today (Wednesday 9/27) in Houston. And as the industry’s movers and shakers gathered over breakfast this morning, a leading sand producer dropped the news of their second planned facility in the Permian Basin derailing who knows how many conversations… Here’s our quick thoughts …
Read More »US Onshore Rig Count Keeps Sliding… Except In The Permian
The US land rig count peaked most recently on August 4, 2017. Since then, it is down 21 rigs and down again slightly this week. Without the Permian Basin, it’d be down even more. There’s a lot more to this story… Login to see the full update… To read this …
Read More »Environmentalists Blitz The W. TX Sand Miners, TCP, & E&P
A leading environmentalist group has issued a new report on sand production in the Permian Basin and it’s impact on the dune sagebrush lizard. The report says sand mining is a threat to the lizard that overshadows all the rest. Login to get the details on this new development… There’s a …
Read More »The 6 Ws Of Permian Basin Frac Sand Mining [Slide Download]
Infill Thinking founder and principal research analyst Joseph Triepke will present an overview of the Permian Basin frac sand rush as part of a panel including senior executives from three Permian sand producers. The presentation will be delivered Thursday morning September 28, 2017 in Houston. In this update, subscribers may …
Read More »Local Media In West Texas Now Reporting That A DSL Listing Petition Is Imminent
The local press in West Texas reports that a listing petition is to be filed imminently. This could impact both Permian E&P and frac sand producers. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must …
Read More »Read The Preferred Sands Response To Recent In-Basin 40/70 Criticism
The debate around in-basin 40/70 grade frac sand quality heated up earlier this week when one Permian sand producer argued vigorously that customers will not buy local 40/70 because it is too fine and fragile. Preferred Sands, whose West Texas reserve profile is 50% 40/70, shared their response to this …
Read More »Starting To Stand Up From The Table In The Deepwater Game Of Convict Poker?
It’s not the full house cleaning analysts want to see, but the offshore drilling industry took a positive step towards healing today. More retirements is something one of our guest contributors, Ron Davis, called for in an analysis piece this summer. More retirements is what we got today… There’s …
Read More »After 100 Years Of Sand Ranching, We’ve Learned A Few Things About These West Texas Dunes [Guest Post]
Historically, the sand dune fields in Winkler County Texas have primarily been used for cattle ranching. In the span of 9 months, 14 massive sand mines have been permitted in these ranchers’ backyards. Winkler ranches don’t change hands often – most have been in the same families for generations. So …
Read More »EOG Picked A Good One. Why Isn’t The Shale Industry Doing More Of This?
We provide experience-based insight on EOG’s latest corporate strategy move and break down how peers compare. We also discuss how this fits into current trends and why it makes sense in the new shale paradigm. There’s a lot more to this story… Login to see the full update… To read …
Read More »It’s Been Wetter Than Normal This Year In Arid Winkler County. Here’s A Chart And Why It Matters
The Kermit area is extremely dry, having averaged just 11 inches of precipitation per year since 2000 per NOAA records. That’s only about 1/3rd of the national average. Locals we are in contact with as well as some environmental experts we’ve spoken with recently have mentioned that it has been …
Read More »Monday Night Football Was A Snooze… Hi-Crush’s Analyst Night Packed A Bigger Punch
While the Lions were busy pummeling the Giants 24-10 on Monday night, Hi-Crush was hosting an analyst day (or night as it were) for investors. Over dinner at the Holiday Inn in Odessa Texas, the event showcased nine senior executives providing an in-depth overview of the company’s business and introducing …
Read More »Atlas Moves South With Their Second Permian Basin Frac Sand Mine
We report breaking news from one of the new entrants in the Permian frac sand mine race. We think through some interesting angles about this new plant plan, this player’s second disclosed in the Permian Basin. There’s a lot more to this story… Login to see the full update… To …
Read More »South Texas Drilling Permits Bounce Back Quickly Following A Brief Harvey Hiatus
In this update we examine drilling permit data for South Texas to infer how the storm and subsequent flooding has impacted drilling rig demand in the region. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you …
Read More »Building Rock Solid Environmental And Safety Programs In The Shifting Sands Of West Texas [Guest Post]
As the Permian frac sand mining story moves from the exploration phase to the execution phase, we thought it’d be interesting to get Tommy Mathews‘s view on the challenges and considerations that Permian miners should be thinking about as they enter production mode. The land grab is over. It’s time …
Read More »A 2nd Permian Basin Sand Mine Flips On The Switch
In this update we share the latest on frac sand mine openings in the Permian including an exclusive look at the very latest at the 2nd site coming online. There’s a lot more to this story… Login to see the full update… To read this update and receive our research …
Read More »Sand Surveillance: 9 Interesting Market Insights From Last Week’s Investor Conference
Last week, more than 75 oilfield executive presented their outlooks at the Barclays Energy-Power conference in New York. We thumbed through all the transcripts to extract the most interesting new insights on the frac sand market. We glossed over pedestrian talking points, capturing only new and interesting stuff that we …
Read More »